Short Term and Long Term Disability

What’s new? (Dec 2022)

For approved Medical leave, Coda pays 100% for 2 weeks inclusive of any income from Guardian disability or the state. Any additional time, if approved, is paid by Guardian disability and/or the state where applicable. Previously, only a portion of your income (60% to $2,500 per week) was covered along with an unpaid 7-day waiting period at the start of one’s medical leave. Coda will top up for two weeks to ensure 100% pay.

Medical Leave Top Up Details

Time & Pay: 2 weeks of 100% pay

Who’s eligible?: US-based full time or part time (30 hours) Codans and must meet the definition of short term/long term disability or medical leave. There is no tenure requirement.

Effective date: January 1, 2023

Partnered vendor: Cocoon - Create your account here

Guiding principles: Providing financial support so Codans can focus on treatment and recovery.

In the event you find yourself in a position where you’re injured, ill, and unable to work for a period of time Coda offers short term and long term disability insurance to help ease this difficult period of time.

Short term vs. Long term disability

Short term disability is intended for temporary injuries and illness conditions that render you unable to do your job that you expect to recover from, as deemed by a medical professional. Some examples include but are not limited to:

C-section

Maternity leave

Injury from a major accident

Side effects from medicines or medical procedures

Surgery rehabilitation

Whereas long term disability is designed for serious injuries and illnesses lasting months or years — even permanently. The qualifications for long-term disability are usually more stringent than those for short-term disability. With short-term disability, benefits can be awarded if the employee is unable to do their job. With long-term disability, benefits will typically only be awarded if the employee is unable to do any job. Long-term disability is an insurance plan that often works in tandem with short-term disability. Once short-term disability benefits are exhausted, a long-term disability policy continues to provide the employee with some income until they can return to work.

In the event an injury or illness prevents you from working, disability insurance helps protect you and your family by providing a portion of your income.

Short Term Disability: Guardian 60% to $2,500 per week (Starting 1/1/2023, Coda will top up 100% for 2 weeks)

Long Term Disability: Guardian 60% to $12,000 per month (Starting 1/1/2023, Coda will top up 100% for 2 weeks)

How does STD/LTD work?

Disability benefits coordinate with applicable state disability programs. At Coda, Cocoon manages the medical leave process including getting required information from your medical provider and filing any claims for Guardian or state benefits.

Cocoon will walk you through this process, but once a claim is filed there's usually a short waiting period — the elimination period — of one to 14 days before an employee can begin collecting benefits from the policy. For most disability claims, the employee must provide a medical form signed by a doctor that details the illness or injury. The form asks for the first date of illness or injury, and this date is typically used as the beginning of the elimination period.

Duration of disability is determined by treating physician.

What should I do if I need help with short term disability or long term disability?

Coda partners with Cocoon, our medical leave administrator, to assist with short term disabilities. They currently do not assist with long-term disability (as of 6/22 this is on their roadmap) so please reach out to [email] if you find yourself needing LTD support.

Create an account here [link] and enter your information.

There may be additional leave time available depending on which state you’re based in, which will become visible when you start designing your leave.

When you are ready to share the news and your leave plan, you’ll be able to do it from the Cocoon platform. It is our expectations that all employees taking a leave of absence (of any kind), inform their manager when taking an extended period of time out of work.

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